Visa shareholders approve executive pay, re-elect board members

Visa Inc . (NYSE:V), the $660 billion financial services giant trading near its 52-week high of $337.83, announced the results of its Annual Meeting of Shareholders on Monday. According to InvestingPro analysis, the company appears slightly overvalued at current levels, though it maintains a "GREAT" financial health score. Shareholders approved the advisory proposal on the compensation of the company’s named executive officers with a significant majority of 91.92%.

The board of directors saw the re-election of all eleven nominees. Lloyd A. Carney, Kermit R. Crawford, Francisco Javier Fernández-Carbajal, Ramon Laguarta, Teri L. List, John F. Lundgren, Ryan McInerney, Denise M. Morrison, Pamela Murphy, Linda J. Rendle, and Maynard G. Webb, Jr. will continue to serve until the next annual meeting or until their successors are elected.

Additionally, the appointment of KPMG LLP as Visa’s independent registered public accounting firm for fiscal year 2025 was ratified with a 97.78% approval rate.

However, several shareholder proposals did not pass, including one concerning gender-based compensation gaps and associated risks, which received only 0.79% of votes in favor. Proposals requesting a report on policy on merchant category codes and the adoption of a new director election resignation governance guideline were also rejected, with 0.74% and 16.94% of votes in favor, respectively. Furthermore, a proposal on transparency in lobbying was not approved, garnering 13.64% of the votes.

The results of these proposals highlight shareholder sentiment on various governance and social issues. This information is based on a press release statement.

In other recent news, Visa has made several strategic moves. The digital payments giant has partnered with X, Elon Musk’s social media platform, to introduce direct payment solutions. Visa will be the first partner for the XMoney account, a feature expected to launch later this year, offering users an integrated payment solution within the app.

In another significant development, Visa has invested in Nigerian fintech Moniepoint, demonstrating its commitment to supporting the growth of small and medium-sized enterprises across Africa. Bernstein analysts have favored Visa over Mastercard (NYSE:MA) for its 2025 prospects, citing potential headwinds for Mastercard and Visa’s strong market leadership.

Piper Sandler has raised Visa’s stock price target to $368, citing the company’s integration of AI into its services, which is expected to decrease fraud losses over time. However, Visa has been accused of neglecting illicit revenue streams from the website OnlyFans, according to a whistleblower complaint filed with the U.S. Treasury’s Financial Crimes Enforcement Network. These recent developments reflect Visa’s ongoing operations and strategic initiatives.

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